Baird Financial Group Inc. cut its stake in Manitowoc Company Inc (NYSE:MTW) by 71.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 101,275 shares of the industrial products company’s stock after selling 254,765 shares during the period. Baird Financial Group Inc.’s holdings in Manitowoc were worth $3,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the company. Nationwide Fund Advisors raised its position in shares of Manitowoc by 1.8% in the second quarter. Nationwide Fund Advisors now owns 106,310 shares of the industrial products company’s stock valued at $639,000 after purchasing an additional 1,926 shares during the period. Virtu Financial LLC raised its position in shares of Manitowoc by 25.2% in the fourth quarter. Virtu Financial LLC now owns 13,048 shares of the industrial products company’s stock valued at $513,000 after purchasing an additional 2,628 shares during the period. SeaCrest Wealth Management LLC bought a new position in shares of Manitowoc in the fourth quarter valued at about $129,000. Stifel Financial Corp raised its position in shares of Manitowoc by 9.3% in the second quarter. Stifel Financial Corp now owns 40,164 shares of the industrial products company’s stock valued at $241,000 after purchasing an additional 3,425 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Manitowoc by 14.2% in the second quarter. Ameriprise Financial Inc. now owns 30,051 shares of the industrial products company’s stock valued at $180,000 after purchasing an additional 3,733 shares during the period.
A number of equities analysts recently commented on the stock. Zacks Investment Research lowered shares of Manitowoc from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 21st. Stifel Nicolaus raised their price target on shares of Manitowoc from $36.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. SunTrust Banks raised their price target on shares of Manitowoc to $37.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Barclays assumed coverage on shares of Manitowoc in a research report on Tuesday, December 12th. They set an “overweight” rating and a $45.00 price target on the stock. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $47.00 price target on shares of Manitowoc in a research report on Friday, November 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. Manitowoc currently has a consensus rating of “Hold” and a consensus price target of $39.92.
Manitowoc (NYSE:MTW) last announced its quarterly earnings data on Thursday, February 8th. The industrial products company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.11). The firm had revenue of $481.50 million for the quarter, compared to analyst estimates of $423.27 million. Manitowoc had a negative return on equity of 1.59% and a net margin of 0.59%. The company’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.24) earnings per share. equities analysts predict that Manitowoc Company Inc will post 0.57 EPS for the current fiscal year.
In other Manitowoc news, SVP Thomas G. Musial sold 4,476 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $33.84, for a total transaction of $151,467.84. Following the sale, the senior vice president now directly owns 54,319 shares in the company, valued at $1,838,154.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Thomas G. Musial sold 1,376 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $32.07, for a total transaction of $44,128.32. Following the sale, the senior vice president now owns 48,467 shares in the company, valued at $1,554,336.69. The disclosure for this sale can be found here. Corporate insiders own 2.82% of the company’s stock.
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The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.
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